Alphatec (NASDAQ:ATEC) Upgraded to Strong-Buy at Stephens

Key Points

• Stephens upgraded Alphatec (NASDAQ: ATEC) to a strong-buy rating, adding to generally positive analyst sentiment on the stock.
• Other firms have recently adjusted their views and price targets, with the consensus rating now Moderate Buy and an average target price of $17.29, above the stock’s recent $8.21 trading level.
• Insider and institutional activity remains notable: a director sold shares under a pre-arranged plan, while institutions own 66.35% of the stock.

Alphatec (NASDAQ:ATEC - Get Free Report) was upgraded by research analysts at Stephens to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on ATEC. Barclays cut their target price on Alphatec from $27.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Lake Street Capital restated a "buy" rating and set a $15.00 price objective on shares of Alphatec in a report on Wednesday, May 6th. Canaccord Genuity Group reduced their price objective on shares of Alphatec from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Piper Sandler reiterated an "overweight" rating and issued a $14.00 target price (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Finally, Stifel Nicolaus dropped their target price on shares of Alphatec from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.29.

Alphatec Price Performance

NASDAQ ATEC opened at $8.21 on Thursday. The stock has a market capitalization of $1.26 billion, a P/E ratio of -10.01 and a beta of 0.85. Alphatec has a 1 year low of $6.82 and a 1 year high of $23.29. The business's fifty day moving average is $8.49 and its two-hundred day moving average is $11.43. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90.

Insiders Place Their Bets

In related news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.01, for a total value of $48,460.50. Following the completion of the sale, the director directly owned 94,671 shares of the company's stock, valued at approximately $758,314.71. This represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 13.48% of the company's stock.

Institutional Investors Weigh In On Alphatec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Alphatec by 157.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company's stock worth $54,000 after acquiring an additional 1,571 shares in the last quarter. Summit Securities Group LLC acquired a new position in Alphatec in the first quarter worth approximately $29,000. Osterweis Capital Management Inc. bought a new position in Alphatec during the second quarter valued at approximately $37,000. Focus Partners Wealth bought a new position in Alphatec during the third quarter valued at approximately $138,000. Finally, Merit Financial Group LLC acquired a new stake in Alphatec in the fourth quarter valued at approximately $207,000. Hedge funds and other institutional investors own 66.35% of the company's stock.

About Alphatec

Alphatec Holdings, Inc NASDAQ: ATEC is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company's portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec's flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.

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